Conference Board of Canada

Latest Economic Quick Take – Trade Balance Ticks Higher

Our Latest Economic Quick Take (Courtesy of the Conference Board of Canada)

Here are highlights into Statistics Canada’s latest international trade release: Canada’s merchandise exports rose 2.0 per cent (month-on-month) in June, while imports rose 1.7 per cent.

As a result, Canada’s merchandise trade surplus with the world widened from $4.8 billion in May to $ 5.0 billion in June.
Total exports rose for the sixth consecutive month to $69.9 billion in June.
Exports of energy products were up 3.2 per cent to $ 21.0 billion in June, representing 30 per cent of total exports.
While energy products were crucial to the gain in total exports, non-energy exports also increased by 1.4 per cent.
We take a closer look at the impact international trade will have on domestic prices across multiple sectors including food, motor vehicles, and lumber.


Canadians Adjust Their Spending Habits
Coping with Persistent Inflation Has Not Been Easy
Inflation reached 8.1 per cent year-over-year in June, and many Canadians have struggled to keep up with the rise in prices.

Many Canadians felt less optimistic about current and future finances in June due to persistent inflation.

This decline in confidence caused Canadians to adjust their spending habits, which is why consumer spending growth slowed in June.

We examine this downward trend in our Index of Consumer Spending (ICS).READ NOW

Business Confidence Declines for the Fourth Consecutive Quarter
Is a Recession on the Horizon?

The last time the Index of Business Confidence experienced four consecutive declines was during the 2007–08 financial crisis.

Our latest survey indicates that firms continue to have concerns about the coming six months, especially when it comes to the rising cost of labour and capital; the shortage of qualified staff; and more recently, interest rate hikes. READ NOW

Markets Continue to Slow
Sales Declines Were Widespread Among Local Markets

National sales of existing homes fell almost 6 per cent in June, the fourth consecutive monthly decline, leaving them down 24 per cent from June 2021.The dip left volumes 7 per cent below the 10-year average of seasonally adjusted monthly sales. 
Our latest Metro Resale Snapshot looks at listings and sales during June 2022.READ NOW
Where insights meet impact© Copyright 2022 The Conference Board of Canada
135 Laurier Avenue West, Ottawa ON K1P 5J2
contactcboc@conferenceboard.ca    Charitable registration number
118778091 RR0001 (AERIC Inc.)
Patricia Dent

Leave a Reply

Your email address will not be published. Required fields are marked *